Alex Mooney: “These regulations and restrictions, I think they are well intended by the other side, but they are hurting the people…”

Just this morning, before the hearing, I saw news that Russia is exploring legislation to formalize their ability to transact in crypto.

I would call upon the subcommittee to think deeply about passing some sort of bill about stablecoins.

I introduced H.R. 804, the Chinese CBDC Prohibition Act of 2023. This bill prohibits U.S. money services businesses from engaging in transactions involving a central bank digital currency issued by China.

I have an amendment at the desk. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: At the end of the bill (before the short title), insert the following: Sec. __. None of the funds made…